Credit Suisse, Kimberly-Clark, Paccar price; high-grade inflows increase

By Cristal Cody

Tupelo, Miss., Jan. 30 – Investment-grade supply on Thursday included new issues from Credit Suisse AG, New York Branch, Kimberly-Clark Corp. and Paccar Financial Corp.

Credit Suisse sold $2 billion of two-year floating-rate senior notes.

Kimberly-Clark priced $500 million of 30-year senior notes.

Paccar Financial brought $300 million of five-year medium-term notes to the primary market.

More than $10 billion of investment-grade notes have priced week to date.

About $20 billion to $25 billion of deal volume was expected for the week, according to syndicate sources.

Issuers stayed out of the primary market on Monday, while deal volume was light on Wednesday with market focus on the Federal Reserve’s monetary policy rate decision.

Meanwhile, corporate investment-grade fund inflows increased this past week from the week prior, according to Lipper US Fund Flows on Thursday.

Inflows rose to $4.38 billion for the past week ended Wednesday from $4.19 billion in the previous week.

Net inflow year to date is more than $23 billion.

The Markit CDX North American Investment Grade 33 index firmed slightly to close Thursday at a spread of 47.6 basis points.

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